23 May 2024 09:33

Softline enters UAE market, opens hub in Dubai

NIZHNY NOVGOROD. May 23 (Interfax) - Softline Group (PJSC Softline ) has entered the market of the United Arab Emirates, opening a hub in Dubai, the Russian IT company reported in a press release.

The company said the expertise center will in future enable it to offer Russian IT solutions and services to the whole Middle East.

"The group's main goal in the Middle East will be to promote its own products and services, as well as the solutions of Russian vendors. Furthermore, a complete package of IT services - installation, technical assistance and support - will be provided on markets where the company has a presence as part of a common approach to expansion," Softline said.

The Eurasian Economic Union, Middle East, Southeast Asia and India are among the priority markets for international development where Russian developers are now focusing their attention and expecting revenue growth, the company said. However, there is currently no systemic player on these markets who focused on promoting Russian IT solutions and establishing the necessary competency centers for Russian products, it said.

The company said earlier that expansion on the markets of friendly countries is one of the priorities of its strategy, which calls for gradually opening Softline expertise centers in various countries.

Softline took the first step in its international expansion in April, when it announced its entry into Kazakhstan and the establishment of a hub in Almaty. The company said that the hub in Kazakhstan will become a springboard for entering markets throughout Central Asia.

Softline mergers and acquisitions director Maxim Russkikh said last week that the company plans to soon announce the acquisition of a systems integrator in India.

PJSC Softline, which is traded on the Moscow Exchange, is the parent company for the former Russian assets of Softline Holding Plc, which split its business into Russian and international entities in 2022.

Atalaya LLC owns 49.98% of the company, companies controlled by Softline hold 9.64%, management and board directors own 5.38%, institutional investors hold 24% (of which 7.42% is owned by Sinara Group) and other shareholders hold 11%.